Marine Lubricants Market - Growth, Trends And Forecast (2022- 2027) By Types, By Application, By Regions and By Key Players - Shell, Total, ExxonMobil, BP

The Global Marine Lubricants Market is Estimated to be USD 5.9 billion in 2021 and is projected to reach USD 6.6 billion by 2026, at a CAGR of 2.1% from 2022 to 2027.

Marine Lubricants Market Overview

Marine lubricants are a special class of lubricants that are manufactured to meet the rugged performance essential in marine vessels for optimized operations. Several machinery component in marine systems require lubricants for better functioning, protection, and prolong life cycles. Considering this, the adoption of marine lubricants plays a significant role in the shipping industry. As per the International Maritime Organization (IMO) stats, around 90% of the world’s trade is carried through maritime transport. Thus, it is important to optimize the performance and prolong the life of machinery components and systems of the marine vessels to confirm uninterrupted and cost-effective propagation of trade throughout the world.Marine lubricants are an important part of the maritime supply chain. The increasing cost of fuel and the implementation of stringent regulations by IMO is likely to increase the consumption of global marine lubricants. Moreover, with the rising in fuel prices, shippers are expected to operate the engines at slow steaming level which in turn, will save the fuel.The marine engines are not capable of operating continuously at reduced rates and this could increase the corrosion concerns in the engine and strained components & system associated with it. To ensure safety and proper functioning of the engine, the dependence on these lubricants is probable to increase and this is anticipated to drive the marine lube market over the forecast period.

Who are the Major Players in Marine Lubricants Market?

Top Key players in the Marine Lubricants Market have been identified through secondary research, and their market shares have been determined through primary and secondary research. The global Metal Marine Lubricants Market is fragmented with a large number of small players operating worldwide. The companies referred in the market research report includes Shell, Total, ExxonMobil, BP, Chevron, Sinopec, Quepet, JX Nippon, Lukoil, Gulf Oil, Idem Itsu, Royal Dutch Shell Plc (Netherlands), TotalEnergies SE(France), Valvoline(US), and others.

Industry News And Development

• Air Liquide, Borealis, Esso S.A.F., TotalEnergies and Yara International ASA have signed a Memorandum of Understanding (MoU) to explore the development of a CO2 infrastructure, including capture and storage, to help decarbonize the industrial basin located in the Normandy region, France. With the objective to reduce CO2 emissions by up to 3 million tons per year by next upcoming years, which is equivalent to the emissions of more than 1 million passenger cars, the first phase will consist in studying the technical and economical feasibility of this project. This partnership, which will seek funding from European, French and Regional schemes, is open to other industrial parties.


• In December 2020, Gulf Oil International signed an agreement to acquire the lubricant blending plant and associated assets from Ocean Tankers (Pte) Ltd based in Tuas of Singapore, which will further offer a strategic opportunity for the company to invest in the marine lubricants market.

What are the major Applications, Types and Regions for Marine Lubricants Market?

Marine Lubricants Market is segmented based on the type, applications, companies and regions.

By Type, Marine Lubricants Market has been segmented into 

• System and Cylinder Oils


• TPEO


• Others

By Application on Marine Lubricants Market are, 

• Deep-sea


• In-land/Coastal


• Others

By Ship Type, Marine Lubricants Market has been segmented into 

• Bulk Carrier


• Tanker


• Container Ship


• Others

Marine Lubricants Market Regional Analysis

The Asia-Pacific region dominated the marine lubricants market. With growing demand in the majority of industries and commodities, an increasing trend for imports and exports has been registered in recent years.

The report offers in-depth assessment of the growth and other aspects of the Marine Lubricants Market in important regions, including the 

North America

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  • US
  
  
  • Canada
  
  
  
  


• Europe
  
  
  
  • Germany
  
  
  • France
  
  
  • UK
  
  
  • Italy
  
  
  • Spain
  
  
  • Rest of Europe
  
  
  
  


• Asia-Pacific
  
  
  
  • China
  
  
  • Japan
  
  
  • India
  
  
  • Australia
  
  
  • South Korea
  
  
  • Rest of Asia-Pacific
  
  
  
  


• Rest of the World
  
  
  
  • Middle East & Africa
  
  
  • Latin America
  
  
  
  

What is our Marine Lubricants Market report scope?

Key Takeaways from this Marine Lubricants Report

• Evaluate Marine Lubricants market potential through analyzing growth rates (CAGR %), Volume (Units) and Value ($M) data given at country level - for product types, end use applications and by different industry verticals.


• Understand the different dynamics influencing the market - key driving factors, challenges and hidden opportunities.


• Get in-depth insights on your competitor performance - market shares, strategies, financial benchmarking, product benchmarking, SWOT and more.


• Analyze the sales and distribution channels across key geographies to improve top-line revenues.


• Understand the industry supply chain with a deep dive on the value augmentation at each step, in order to optimize value and bring efficiencies in your processes.


• Get a quick outlook on the Marine Lubricants market entropy - M&A's, deals, partnerships, product launches of all key players for the past 4 years.


• Evaluate the supply-demand gaps, import-export statistics and regulatory landscape for more than top 20 countries globally for the market.

FAQ -

What is the study period of this market?

The Marine Lubricants Market is studied from 2017 - 2027.

 What is the growth rate of Marine Lubricants Market?

The Marine Lubricants Market is growing at a CAGR of 2.1% over the next 5 years.

What regions does this Marine Lubricants Market report covers?

North America (the United States, Canada, and Mexico)

Europe (Germany, France, UK, Russia, and Italy)

Asia-Pacific (China, Japan, Korea, India, and Southeast Asia)

South America (Brazil, Argentina, Colombia, etc.)

The Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, and South Africa)

All our reports are customizable to your company needs to a certain extent, we do provide 5 free consulting hours along with purchase of each report, and this will allow you to request any additional data to customize the report to your needs.